New Delhi: Swimwear brand Speedo USA on Monday evening announced that they have dumped US Olympian swimmer Ryan Lochte after he lied about a robbery during a night out in Rio with his three other Olympian friends.

The swimwear brand took to their Twitter account to announce the official response regarding the sponsorship of Ryan Lochte. “Speedo USA today announces the decision to end its sponsorship of Ryan Lochte. As part of this decision, Speedo USA will donate a $50,000 portion of Lochte’s fee to save The Children, a global charity partner of Speedo USA’s parent company, for children in Brazil …”

American Olympians Ryan Lochte, Jimmy Feigen, Jack Conger and Gunnar Bentz during the Rio Games had claimed earlier this month that they had been held at gunpoint and robbed in Rio de Janeiro. However, the US athletes retracted and admitted the story had been made up, reports Sputnik.

Later, surveillance footage and an investigation by Brazilian authorities showed that they had vandalised a gas station bathroom and had handed over money to armed security guards who had prevented them from leaving.

Earlier, the International Swimming Federation (FINA) had said that it was watching the probe into a breach of the code of conduct by four American Olympic swimmers during the Rio Olympic Games and would take action if necessary.

Meanwhile, in all this ruckus, the people of Brazil said that they were disappointed with the four American swimmers who made up a false story about being robbed during the Olympic Games.